Etihad bucks downward trend
Etihad Airways saw its cargo tonnage grow by 19 percent last year to reach almost 368,000 tonnes.
Speaking at the Abu Dhabi based carrier's annual results presentation, president and CEO James Hogan (pictured left) said, “Etihad Cargo is continuing to outperform the market. We are building strong momentum in international growth markets and through focused customer and product segmentation.”
The strong result for cargo formed part of a startling overall performance that saw Etihad triple its net earnings last year, from $14 million to $42 million. EBITDAR earnings were $753 million compared with $648 million) in 2011, on revenue that increased from $4.1 billion to $4.8 billion.
Etihad expanded its fleet by six aircraft to 70, enabling access to 86 Etihad Airways passenger and cargo destinations, and 248 codeshare destinations. Six new destinations were added in 2012-Shanghai, Ahmedabad, Basra, Tripoli, Nairobi and Lagos. Frequency and capacity was increased to a further six cities-Bangkok, Kuwait, Dammam, Cairo, Istanbul and Düsseldorf.
Fourteen new aircraft are slated for delivery this year, including three freighters. Ho Chi Minh City, Amsterdam, Washington and Sao Paulo are among new destinations already announced for 2013.